(Alliance News) - Spectris PLC on Tuesday said it sold Omega Engineering to private equity firm Arcline Investment Management for USD525 million.
The precision instrument supplier will now be made up of three businesses: Malvern Panalytical, HBK, and Industrial Solutions.
Omega Engineering focuses on manufacturing products used for the measurement and control of temperature, humidity, pressure, strain, force, flow, level, pH, and conductivity.
In 2021, Omega generated sales of GBP129.0 million and adjusted earnings before interest, tax, depreciation and amortisation of GBP19.7 million.
The disposal of the subsidiary was first announced in April.
Shares in the FTSE 250 firm were up 1.6% at 2,812.00 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Spectris (SXS)